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Time of India
10-05-2025
- Business
- Time of India
Retrofitting can unlock ₹1.2–1.6 lakh crore in asset value across Indian offices: CBRE
NEW DELHI: India's ageing office stock presents a significant value creation opportunity, with strategic retrofitting capable of unlocking up to ₹1.2–1.6 lakh crore in capital value, according to a recent report by CBRE South Asia. The report estimates that such upgrades could drive 25–40% asset value enhancement in key commercial micro-markets. To realise this potential, the total investment required is estimated between ₹30,000–40,000 crore, depending on the scale and scope of enhancements. This includes structural upgrades, façade modernisation, HVAC optimisation, ESG compliance, and the addition of employee-centric amenities. The report adds that well-executed retrofits can offer a 3–5 year payback period, driven by improved occupancy, better lease terms, and enhanced tenant retention CBRE estimates that close to 160–180 million sq ft of India's office stock is over a decade old and likely in need of refurbishment or complete repositioning. 'With workplace preferences changing rapidly and tenants now demanding enhanced sustainability, wellness, and smart technology integration, retrofitting offers a high-return solution for landlords and investors,' said Abhinav Joshi , head of research – CBRE India, MENA & SE Asia. The report notes that capital value enhancement post-retrofit could reach 40% in select micro-markets, with rental appreciation potential ranging between 15–35%, depending on location, scope, and quality of upgrades Bengaluru, NCR, and Mumbai lead retrofit demand According to CBRE, over 160–180 million sq ft of India's office inventory is more than a decade old and in need of varying levels of upgradation. Of this, more than 70% is concentrated in three major metros: Bengaluru: 35–40 million sq ft Delhi-NCR : 30–35 million sq ft Mumbai (MMR): 25–30 million sq ft These cities alone represent a retrofit investment opportunity of ₹20,000–25,000 crore, and could potentially unlock over ₹1 lakh crore in capital value post-upgradation. Bengaluru's Outer Ring Road, Whitefield, and CBD/SBD areas lead the demand due to the presence of early-generation IT parks and SEZs. In NCR, the focus is on Gurugram's Udyog Vihar, Golf Course Extension, and Noida's Sector 62/63 belt, where many buildings now face occupancy pressure due to lack of ESG compliance and modern infrastructure. Mumbai's BKC, Andheri East, and Lower Parel also feature prominently in the list of zones with high retrofit potential. Other cities like Hyderabad, Pune, and Chennai are expected to see 10–15 million sq ft of ageing stock each entering the retrofit cycle within the next 2–3 years. 'The retrofitting trend aligns with the maturing of India's office sector, where older assets are under increasing pressure from Grade A+ supply and ESG-compliant buildings,' said Sumit Arora, head – National Operations & Workplace Strategy, CBRE Consulting. Citing recent workplace experience surveys, CBRE notes that 81% of employees expressed a preference for upgraded workspaces offering better lighting, air quality, acoustic comfort, and breakout zones. More than 60% of respondents also stated that high-quality work environments have a direct impact on productivity and talent retention. The report highlights a set of financial and operational value drivers propelling the retrofitting trend in India's office market. Retrofitted buildings in high-demand micro-markets can witness capital appreciation of up to 40%, while commanding 15–35% higher lease rentals due to improved design, efficiency, and tenant experience. Additionally, energy-efficient upgrades such as HVAC optimization, LED lighting, and advanced water systems can reduce operating costs by 20–30% over time. Beyond financial returns, retrofits also help developers and asset owners align with ESG benchmarks, achieve green certifications, and enhance the long-term sustainability profile of their portfolios.
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Business Standard
07-05-2025
- Business
- Business Standard
Indians seeking newer forms of entertainment activities in malls: CBRE
Indian consumers are increasingly preferring active entertainment and newer activities such as trampoline parks, escape rooms, rock climbing, and AR/VR experiences over passive options, even as traditional amusement parks and bowling alleys remain popular. High streets and standalone experience centres are being equally favoured—especially by Gen Z—and consumers are willing to spend up to Rs 4,000 monthly, with a majority willing to spend in the range of Rs 1,000–2,000, according to a survey by real estate consultant CBRE South Asia and Invest India. A relatively smaller portion prefers passive experiences such as immersive art, art fairs, museums, and theatre, the report said. Ram Chandnani, managing director, advisory and transaction services, CBRE India, told Business Standard, 'Across Indian cities, both high streets and shopping malls have evolved into distinct retail ecosystems. Take Bengaluru, for example—micro-markets like Indiranagar have developed into vibrant neighbourhood clusters, largely driven by F&B.' 'They offer a curated retail experience catering to younger consumers who value not just dining but an immersive outing—grabbing a sandwich, coffee, or enjoying a full meal while shopping. These high streets thrive on proximity to residential hubs and infrastructure, which enhances accessibility and footfall,' Chandnani added. On average, over 65 per cent of respondents preferred to focus solely on entertainment experiences or combine them with food and beverages (F&B), as per the report titled Retail Level-up – The Entertainment Edition. Chandnani also highlighted the growing interest from international entertainment brands, such as the US-based dining and entertainment centre Dave & Buster's, introduced by the Malpani Group. 'High-quality entertainment centres are thriving in both metros and tier-II cities, with leading brands reporting similar revenue performance across these markets. This growth is fuelled by a focus on immersive experiences, as developers invest in placemaking through experiential dining, large-format stores, green zones, and community amenities. Regular events further enhance footfall and customer loyalty,' said Chandnani. Anshuman Magazine, chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE, said, 'The entertainment sector's growth is redefining retail real estate in India. As consumers increasingly seek experiential engagement, entertainment formats—particularly family entertainment centres and children entertainment centres—are becoming critical to mall strategies. We believe the integration of experience-driven formats will be central to the next phase of retail development in India.'
Time of India
22-04-2025
- Business
- Time of India
Mumbai, Delhi-NCR, and Bengaluru attract $16.5 billion equity investments in CY 2022-24: Report
NEW DELHI : Mumbai topped the real estate equity investments with the highest inflows of $6.9 billion, accounting for 26% share in the total real estate equity investments between CY 2022-24, according to a report by CBRE South Asia & Confederation of Indian Industry (CII). Together, Mumbai, Delhi-NCR, and Bengaluru attracted around $16.5 billion, accounting for a cumulative 62% share during this period. Rishi Kumar Bagla , chairman, CII Western Region and chairman & MD, BG Electricals and Electronics, said, "With 1 in 5 investors prioritising green buildings, ESG-led investment strategies are no longer optional—they are central to long-term value creation. As the sector becomes more structured and regulated, we expect deeper participation from global funds, especially those focused on sustainability and resilience." Land/developments sites attracted the largest share of equity investments, accounting for a 44% share of total inflows between CY 2022-24, followed by built-up office assets, which had a 32% share. Total real estate equity investments during CY 2022-24 stood at USD 26.7 bn in India. Rami Kaushal, MD, Consulting & Valuation Services, India, Middle East, Africa, CBRE, said, "With land acquisition and platform-level investments already gaining traction, we anticipate increased investor interest in these future-ready asset classes." Between CY 2022 and 2024, tier-II cities accounted for nearly 10% of total real estate equity investments, amounting to approximately $3 billion. During this period, land/developments sites emerged as the leading investment sector in tier-II cities, attracting approximately 47% share of the total tier-II capital inflows, followed by the industrial and logistics (I&L) sector, which accounted for around 25% share.
Business Standard
21-04-2025
- Business
- Business Standard
Luxury That Lasts: How Premium Luxury Projects Are Becoming Family Heirlooms
NewsVoir New Delhi [India], April 21: In an era where trends change overnight, the idea of legacy is finding new roots in the real estate sector. For buyers, a home has become more than just a place to live, it is a statement of values, a vessel of memories, and increasingly, a gift meant to outlive its first owner. Families today aren't just buying for the present; they're investing in homes they envision passing down, brick by brick, to the next generation. Beyond the tangible value of square footage and amenities, luxury homes hold a deeper, more personal kind of worth- emotional equity. Over time, a home becomes more than just a well-designed structure; it transforms into a backdrop for life itself. This emotional connection, layered with the home's financial appreciation, makes luxury residences uniquely powerful as generational assets. The real estate sector is witnessing developers creating housing projects that resonate with the emotional value of buyers. Developers with credible track records and legacy-driven expertise are consistently leading this transformation and one among them is Prateek Group, a developer that has redefined luxury living in Noida and Ghaziabad. With well-thought-out layouts, curated lifestyle amenities, and a strong emphasis on timeless design, Prateek Group has been crafting exceptional projects of its time. Rishabh Verma, a 36-year-old IT professional, who is planning to buy his dream home in one of the Prateek Group's projects shared his experience. He said, "While we are excited to own our dream home, it isn't just about ticking boxes like location or amenities. We wanted a place that our kids would be proud to call home even 25 years from now and would like to hold onto its prestige. Since we are exploring Prateek Canary located in sec-150 Noida to own our very first home, we must say that we resonated with this project being crafted with each detailing fitting well with our aspirations of home and lifestyle. My wife and I often talk about how having a home here evokes a sense of belongingness and that is priceless." As per CBRE South Asia's 'India Market Monitor, Q1 2025- Residential' report, India's luxury housing segment (units priced at Rs 4 crore and above) recorded 28% Y-o-Y sales growth in Jan- Mar 2025 across India's top seven cities. The segment witnessed total sales of approximately 1,930 luxury units during the quarter. Among the top seven cities, Delhi-NCR led in quarterly luxury unit sales, recording nearly half of total sales at around 950 luxury units, followed by Mumbai, which had a share of 23% in overall sales. Further, prime areas such as Noida, Greater Noida West, Gurugram, and select pockets of Ghaziabad like Siddharth Vihar have emerged as hotspots for premium luxury developments, projects that promise not only an elevated lifestyle but also long-term capital appreciation. Hence, buyers are no longer driven solely by location or amenities; they're looking for homes that will remain relevant, desirable, and profitable for decades to come. Meera Sinha, a 35-year-old teacher, shared her experience of buying her life's biggest investment. She said "Since my parents live in Ghaziabad, I was looking to invest in a property and buy a house of my own here. Having travelled across the globe, I have always been fascinated with a serene and convenient lifestyle that is not only relevant in today's time but also designed for future living. I have come across Prateek Grand Begonia as one of the most promising developments taking place in Siddharth Vihar. It was quite impressive to see Prateek Group's legacy in building such projects over the years and standing the test of the time which further encouraged me to go for this." Besides, being a safe financial bet, urban centers are witnessing the trend of families being keen to hold onto luxury homes, an asset that blends architectural brilliance with emotional and financial value. When backed by a trusted developer, such projects offer more than just a high address; they promise legacy living. In the luxury segment, the developer's reputation can be as influential as the property itself. Projects by trusted names like Prateek Group not only retain their market value over time but also gain an added layer of prestige that resonates with future generations. With years of experience in the sector, the Prateek Group has carved a niche as a developer who is known for its impeccable design sensibility, enduring construction quality, and thoughtful community planning. For many families, holding onto a legacy home is not just about real estate; it's about safeguarding both financial and emotional wealth for future generations. As property values in well-located, premium developments continue to appreciate, families are recognizing these homes as smart instruments of wealth preservation, especially in the face of economic volatility. In the end, true luxury lies in what lasts.
Fashion Value Chain
21-04-2025
- Business
- Fashion Value Chain
Luxury That Lasts: How Premium Luxury Projects Are Becoming Family Heirlooms
In an era where trends change overnight, the idea of legacy is finding new roots in the real estate sector. For buyers, a home has become more than just a place to live, it is a statement of values, a vessel of memories, and increasingly, a gift meant to outlive its first owner. Families today aren't just buying for the present; they're investing in homes they envision passing down, brick by brick, to the next generation. Built for today, cherished for generations – luxury that becomes legacy Beyond the tangible value of square footage and amenities, luxury homes hold a deeper, more personal kind of worth- emotional equity. Over time, a home becomes more than just a well-designed structure; it transforms into a backdrop for life itself. This emotional connection, layered with the home's financial appreciation, makes luxury residences uniquely powerful as generational assets. The real estate sector is witnessing developers creating housing projects that resonate with the emotional value of buyers. Developers with credible track records and legacy-driven expertise are consistently leading this transformation and one among them is Prateek Group, a developer that has redefined luxury living in Noida and Ghaziabad. With well-thought-out layouts, curated lifestyle amenities, and a strong emphasis on timeless design, Prateek Group has been crafting exceptional projects of its time. Rishabh Verma, a 36-year-old IT professional, who is planning to buy his dream home in one of the Prateek Groups projects shared his experience. He said, 'While we are excited to own our dream home, it isn't just about ticking boxes like location or amenities. We wanted a place that our kids would be proud to call home even 25 years from now and would like to hold onto its prestige. Since we are exploring Prateek Canary located in sec-150 Noida to own our very first home, we must say that we resonated with this project being crafted with each detailing fitting well with our aspirations of home and lifestyle. My wife and I often talk about how having a home here evokes a sense of belongingness and that is priceless.' As per CBRE South Asia's 'India Market Monitor, Q1 2025- Residential' report, India's luxury housing segment (units priced at Rs 4 crore and above) recorded 28% Y-o-Y sales growth in Jan- Mar 2025 across India's top seven cities. The segment witnessed total sales of approximately 1,930 luxury units during the quarter. Among the top seven cities, Delhi-NCR led in quarterly luxury unit sales, recording nearly half of total sales at around 950 luxury units, followed by Mumbai, which had a share of 23% in overall sales. Further, prime areas such as Noida, Greater Noida West, Gurugram, and select pockets of Ghaziabad like Siddharth Vihar have emerged as hotspots for premium luxury developments, projects that promise not only an elevated lifestyle but also long-term capital appreciation. Hence, buyers are no longer driven solely by location or amenities; they're looking for homes that will remain relevant, desirable, and profitable for decades to come. Meera Sinha, a 35-year-old teacher, shared her experience of buying her lifes biggest investment. She said 'Since my parents live in Ghaziabad, I was looking to invest in a property and buy a house of my own here. Having travelled across the globe, I have always been fascinated with a serene and convenient lifestyle that is not only relevant in todays time but also designed for future living. I have come across Prateek Grand Begonia as one of the most promising developments taking place in Siddharth Vihar. It was quite impressive to see Prateek Groups legacy in building such projects over the years and standing the test of the time which further encouraged me to go for this.' Besides, being a safe financial bet, urban centers are witnessing the trend of families being keen to hold onto luxury homes, an asset that blends architectural brilliance with emotional and financial value. When backed by a trusted developer, such projects offer more than just a high address; they promise legacy living. In the luxury segment, the developer's reputation can be as influential as the property itself. Projects by trusted names like Prateek Group not only retain their market value over time but also gain an added layer of prestige that resonates with future generations. With years of experience in the sector, the Prateek Group has carved a niche as a developer who is known for its impeccable design sensibility, enduring construction quality, and thoughtful community planning. For many families, holding onto a legacy home is not just about real estate; it's about safeguarding both financial and emotional wealth for future generations. As property values in well-located, premium developments continue to appreciate, families are recognizing these homes as smart instruments of wealth preservation, especially in the face of economic volatility. In the end, true luxury lies in what lasts.
